Numerous crypto-curious institutional banks gathered for Synchronize 2019, a crypto and blockchain technology-focused conference, last Wednesday in downtown Manhattan. The main topic of discussion concerned the question of when the institutional banking industry will embrace mass adoption of blockchain technology and crypto.

The Sentiment from OpenCrowd:

“I felt there was good, solid traction in moving towards real-world use cases in production environments. Audience members were asking for help with specific technology challenges across multiple platforms.” - Sushil Prabhu, Founder and CEO

“There was healthy skepticism among many participants, but after a lot of questions, they began to appreciate the advantages and integrity of products like Diamond Standard coins and bars.” - Shawn Traynor, Head of Solutions

“A lot of people realize they need help with implementing decentralized solutions because they have insufficient internal skills. Many people now understand that applying blockchain to core processes that they have invested in automating is not likely to succeed; additionally, they are getting better at identifying greenfield opportunities and broken processes where blockchain can be used” - Rajiv Sohal, Chief Architect

“It was encouraging to see so many folks from enterprise businesses, specifically financial services. Some were curious to learn how others are applying the technology. Some were interested in the disruption in the payment industry with the announcement of JPM Coin, as well as the rumored FaceBook Coin in the making. We felt there was a good mix of skeptics and believers who were looking for ways to improve internal biz process and create new businesses” - Brad Buck, VP of Strategy and Development Solutions